Podcasting Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

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Podcasting Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029

Status : January, 2023 | Technology & Media

Report Digest

Podcasting Market: Outlook

The popularity of podcasts has seen an extraordinary rise. Podcasts ranging across a plethora of categories such as art, entertainment, news, politics, history, and others are attracting a plethora of consumers. Podcasts were first introduced only for iPods but later as the popularity surged, many new players entered the podcasting market and boosted the growth rate.

Based on the rising popularity, rapid internet speed, and rise in subscribers, the global podcasting market may invite massive growth during the forecast period of 2019-2029.

Podcasting Market: Competitive Analysis

The podcasting market has diverse players across numerous countries across the globe. Podcasting platforms are always in the process of crafting good audible content to gain maximum subscribers. The players in the podcasting market increase their subscriptions through offering limited period free trails, discounts, and low per month membership plans. These factors help in nurturing the growth of the podcasting market.

For instance, Amazon recently launched a cheaper monthly subscription plan for access to its audiobooks and podcasting platform, audible. It will offer over 68000 hours of content. Such plans bring immense growth prospects for the podcasting market. Some key players involved in the podcasting market are Pandora Media, Inc., Apple Inc., Soundcloud Limited, Amazon.com, Inc., and Spotify AB.

Podcasting Market: Entry of New Players

The podcasting market attracts tough competition through the entry of novel players in the podcasting market. Some well-established organizations are also entering the podcasting market to strengthen their subscriber numbers. Here are some recent developments regarding new players across the podcasting market.

  • Merriam-Webster, the renowned dictionary publisher recently announced the launch of ‘Word Matters’, a new podcast to discuss new and emerging words and other vocabulary-related topics.
  • Canada-based organization Mucci Farms is launching a podcast known as ‘Spill the Greens’ to create awareness among the consumers about greenhouse operations.
  • Whalerock Industries, a Hollywood-based production and consulting company launched Echoverse, a podcast studio focusing on science fiction and fantasy audio experiences

Podcasting Market: Mergers, Acquisitions, and Collaborations

Mergers, acquisitions, joint ventures, and partnerships form an important part of the growth of the podcasting market. Some recent activities related to mergers, acquisitions, and collaborations are as follows:

  • Stingray recently acquired a 30 percent share in The Podcast Exchange (TPX), a leading podcasting enterprise in Canada.
  • Spotify announced its decision to acquire The Ringer, a popular sports podcast network to increase its influence over sports podcasting.
  • SiriusXM recently announced to buy Sticher, a podcasting firm for $325 mn.

Podcasting Market: Enterprise Podcasting on Rise

The growing influence of enterprise podcasting may garner considerable growth for the podcasting market through the forecast period of 2019-2029. To enable employee engagement, many companies are making use of enterprise podcast. These podcasts are better than sending emails and help to distribute information internally in an efficient manner even during the Work-From-Home mechanism due to the COVID-19 pandemic. This aspect may bring great growth opportunities for the podcasting market.

Podcasting Market: Regional Perspective

North America may serve as the largest growth contributor for the podcasting market during the assessment period of 2019-2029. The growing number of podcast subscribers, especially in the U.S. may help the podcasting market in North America to gain traction. According to the Infinite Dial 2020 survey, 55 percent of the populace in the U.S. has listened to a podcast at least once up from 51 percent in 2019. These statistics display the growing popularity of podcasts across the region.

Asia Pacific may also harness significant growth for the podcasting market. The proliferating demand for podcasts in India and China may bring massive growth. China is second and India is the world’s third-largest podcast market after the U.S. The availability of podcasts in local languages is also fueling the growth of the podcasting market in India, eventually increasing the growth rate of the podcasting market.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?